Introduction
As an experienced trader and MQL5 programmer from the EASY Trading Team, I'm not easily impressed. Today, I'm here to evaluate the trading robot known as Break Out of Range, based on its user feedback and performance over the last year. With user comments praising its risk/reward ratio and extensive parameters, it's time to see if this robot is worth the hype.Description of Functions
The Break Out of Range robot is designed to identify and trade breakouts from predefined price ranges. Its main functions include:- Risk/Reward Management: Allows for the configuration of risk and reward levels.
- Parameter Flexibility: Offers a multitude of settings, enabling customization of the trading strategy.
- Day Selection: Traders can turn off trading on specific days.
- Automated Trading: Executes trades automatically based on the defined range breakout strategy.
Analysis of Results
Over the past year, the Break Out of Range robot has shown consistent performance, but let's not get carried away. The numbers suggest a steady return, but there's always room for skepticism in automated trading. The robot's performance can vary greatly depending on market conditions and the settings used.Pros and Cons
- Pros:
- Good risk/reward ratio, which is crucial for long-term profitability.
- Highly customizable with numerous parameters.
- Ability to disable trading on specific days, adding a layer of control.
- Cons:
- The necessity of extensive customization can be a double-edged sword; improper settings can lead to poor performance.
- It requires constant monitoring and tweaking to adapt to changing market conditions.
Source Code of Break Out of Range
We don't have access to the original source code of the Break Out of Range robot sold on MQL5, but we can create a similar code based on its description available on the MQL5 website. If you have questions about the code, feel free to ask. Remember, this is an example code created by the EASY Trading Team, based on the description of the robot.
Code:
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In conclusion, the Break Out of Range robot offers promising features and has received positive feedback. However, like any automated trading system, it's not without its downsides. It's important for users to experiment with the settings and adapt them to their trading style and market conditions. We encourage users to discuss the robot on forums and share their results.For detailed statistics and more information, visit the official page. If you have any questions or need further assistance, don't hesitate to ask. Remember, the EASY Trading Team doesn't sell the Break Out of Range robot but has created a similar code based on its description.